HSBC Commercial Banking’s Post

By enabling customers to verify payee details, the Payment Pre-Validation API helps to lower the risk of fraud by reducing the likelihood of misdirected payments and payments being sent to fraudulent accounts, whilst offering an enhanced customer experience. Designed to streamline payee account validation process for businesses such as e-commerce merchants and insurance companies, the API offers seamless validation of beneficiary account numbers during user registration processes, ensuring greater accuracy and efficiency. Corporates can additionally benefit from streamlined vendor management workflows by validating the beneficiary accounts for new vendors.

HSBC have launched a NEW Payment Pre-Validation API to help their business customers verify details of payees PRIOR to sending payments 👏 🏦 💵 Designed to streamline the payee account validation process for businesses such as e-commerce merchants and insurance companies, the new API offers SEAMLESS validation of beneficiary account numbers during user registration processes, ensuring GREATER accuracy and efficiency ✅ 💸 Leveraging Swift’s global pre-validation service for payee accounts, and benefits from existing regulatory schemes such as the UK’s CoP AND similar initiatives in Hong Kong 👩💻 Nadya Hijazi, Global Head of Wholesale Digital Channels at HSBC said:“At HSBC, we are committed to empowering our customers with innovative solutions that enhance their financial experiences. The Payment Pre-Validation API represents a significant leap forward in payment validation technology, underscoring our dedication to optimising payment processes whilst safeguarding against errors and fraud. “ Find out more on the link below! 👇 #hsbc #payments #businesspayments #confirmationofpayee #swift #ecommerce #insurance #digitalpayments #fintech #fintechnews

Flagstone achieved automated reconciliation and real-time visibility via HSBC's API and Virtual Account solution. https://grp.hsbc/6042u5okp #CashManagement #GlobalPaymentsSolutions #API #VirtualAccounts #ClientSuccess #BuildingSmarterBusinessTogether

Learn how HSBC uses Payment Pre-validation to eliminate payment errors and deliver their customers the best payments experience possible. "Customer experience is paramount to HSBC,” explains Sanchala Liyanage, Senior Product Manager, International Payments at HSBC. What is your customer experience like? 👉 Learn more: https://okt.to/qdGtRY #testimonials #payments #prevalidation #swift

First time right keeps your customers happy when they sent their cross-border payments! But also when receiving 😉 "Customer experience is paramount to HSBC,” explains Sanchala Liyanage, Senior Product Manager, International Payments at HSBC. Learn how HSBC uses Payment Pre-validation to eliminate payment errors and deliver their customers the best payments experience possible. 👉 Learn more: https://okt.to/19JIno #testimonials #payments #prevalidation #swift

Mastercard’s third annual borderless payments report is a global survey that sheds light on the cross-border and domestic payment experiences of more than 11,000 participants in 15 countries. Key pointers: - Fraud remains a key concern for consumers when sending cross-border payments, as 4 in 10 feel they are more likely to be a victim of fraud from a cross-border payment vs. a domestic payment. -Late or failed cross-border payments drive immediate and longer-term negative impact on consumers’ well-being. 76% could not support themselves in some way as a result of a late/failed payment. - Speed and transparency are also top of mind for SMEs when sending international payments, as late or failed payments hurt their reputations and vital supplier relationships. - 50% of SMEs are conducting more business internationally than in 2021 Download: https://lnkd.in/e486M72X #payments #banking #fraud

This innovation has become prominent in the BFSI sector over the past few years, driven by the need to reduce manual processing, lower costs and minimise fraud. 👇 https://rb.gy/in9f7f #contract #smartcontracts #banking #financial #cyprus #myseminarscy European Institute of Management and Finance (EIMF)

Credit Card Industry is going to go through a big overhaul in India. May prove to be a big gain for some card issuers. https://lnkd.in/d2qAwK3c Areness Legal Consulting Ayush Mittal #areness #arenesslaw #creditcards #finance #financenews #credit #fintech #americanexpress #visa #mastercard #diners #RBI

Banks have long dedicated their risk-management capabilities and expertise to the card-issuing side of payments, which, after much investment and innovation, has evolved dramatically. And now, the changing merchant landscape is pushing acquirers to follow suit: https://lnkd.in/gtef_dFW. Visa Consulting & Analytics (VCA) #VisaConsultingAnalytics #Banking #RiskManagement

🔔 The #futureofpayments Review 🍁 It is perceived that #openbanking can provide an alternative to cards and they are optimistic about the area of innovation. They have long wanted dispute resolution processes as well as risk and liability frameworks 🍁Consumer support allows open banking to operate at #scale. It is very encouraging to see the Future of Payments Review recommending #urgentaction on this fundamentally important issue. https://lnkd.in/eZuq-UB8